Danish online trading giant, Saxo Bank, has announced that it is partnering with Interoute, owner-operator of one of Europe’s largest networks and a global cloud services platform, to increase clients’ connectivity to the company’s proprietary multi-asset trading platform, SaxoTraderGO.
Drawing on Interoute’s high capacity low latency network infrastructure, Saxo’s clients – namely, banks, brokers and individual retail traders – will benefit from high-speed, real-time data, such as foreign currency exchange rates, which can change up to 10 times per second.
According to the announcement, Interoute will provide Saxo Bank with a 10GB network connection between Saxo Bank’s head office and data centres in the UK and Denmark and an MPLS network connecting Saxo Bank with its regional offices worldwide.
With the recent volatility in global markets, Saxo Bank experienced a surge in volume in August, particularly as the Chinese stock market moved violently. However, in contrast to the SNB-inspired volatility in January, brokers are managing to benefit from the trading conditions.
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The new connection provided by Interoute will provide Saxo Bank’s clients with increased opportunities to take advantage of rapid movements in the market. Indeed, Saxo Bank’s value proposition is increasingly focused on its technology, allowing customers to trade across asset classes on a single platform.
This is a good example of how Interoute can enhance the infrastructure of a digital business like Saxo Bank and ensure the high performance of its online services.
Ashley Latham, CIO of Saxo Bank, comments: “Financial markets can be very volatile, hundreds of thousands of prices are updated every second. It is critical for us that we get the right price at the right time from the market and we send these prices onto our clients. In the global trading market our innovative trading platform provides the opportunity and Interoute provides the high performance network to keep it constantly updated and available.”
Matthew Finnie, CTO of Interoute, adds: “This is a good example of how Interoute can enhance the infrastructure of a digital business like Saxo Bank and ensure the high performance of its online services. As speed becomes ever more business critical, we’re seeing a growing demand from international businesses for our global expertise in delivering network solutions.”